Stocks rise on hopes for Spain
Jun 7, 2012 / 6:49 am
The Toronto stock market advanced for a third session on hopes that European officials are coordinating help for Spain's troubled banking sector and that a lower interest rate announced by China will offset softer growth.
The S&P/TSX composite index ran ahead 92.6 points to 11,726.
The Canadian dollar gained 0.37 of a cent to 97.66 cents US.
Buying enthusiasm also extended to U.S. markets where the Dow Jones industrial average turned up 122.76 points to 12,537.55, the Nasdaq composite index was up 28.56 points to 2,873.28 and the S&P 500 index gained 12.44 points to 1,327.57.
Oil is up $1.58 to US$86.60 a barrel.
On the corporate front, shares in fashion retailer Lululemon (TSX:LLL) fell nine per cent. The company beat earnings estimates in the last quarter but its outlook for the full year was below analyst expectations.
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|QHR Technologies Inc||0.57||-0.03|
|Anavex Life Sciences||0.50||-0.02|
|Copper Mountain Mining||1.74||-0.03|
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